Bitcoin, Ethereum Price Prediction- Hints Upcoming Relief Rally In Crypto Market

BTC, ETH

Published 8 hours ago

Bitcoin, Ethereum price prediction: the BTC and ETH price showing sustainability above their respective support gives major altcoins a significant boost to chase higher levels. Moreover, the global crypto market rose to $840.72 Billion at 7:11 am EST Monday, a hike of 0.54%  since yesterday. 

In addition, the total crypto market volume has appreciated 54.5% to $73.80 Billion in the last 24 hours. Currently, the total volume in DeFi stands at $4.51B, which makes up 6.11% of the total crypto market 24-hour volume. 

Top Gainers and Losers

heatmap of cryptocurrency pricesSource- Coin360

Within the top 100 cryptocurrencies, Trust Wallet Token(TWT) at $2.3 is the higher gainer with a 48.29% rise in the last 24 hours, followed by KuCoin Token(KCS) at $7.94 with a 17.30% increase. Meanwhile, the top losers are XDC Network and Casper, with the XDC price dropping 7.21% to hit $0.02465 and the CSPR price falling 6.54% to $0.02916.

Bitcoin Price 

btcSource- Coinmarketcap

Amid the ongoing consolation, the Bitcoin price rebounded twice from the $16000 support within a week. The coin price jumped 5.9% from the aforementioned support and currently trades at the $16781 mark.

Moreover, an evident bullish divergence in the daily-RSI slope accentuates the rising buying activity at this support. A 60% rise in volume activity supports a bullish reversal from $16000. With sustained buying, the coin price should rise 9% to rechallenge the $18200 breached support.

Bitcoin Price PredictionSource- Tradingview

The coin holders should keep a close eye on the price action at this resistance, as a reversal from this barrier will indicate the traders are selling on rallies. 

Ethereum price 

ethSource- Coinmarketcap

The Ethereum daily time frame chart shows a rising three-method candlestick pattern. This bullish continue pattern is often spotted in the ongoing bull run, as it replenishes the buying pressure for a further price rally.

This candle step-up shows sustainability above the $1250-$1220 support zone, offering a suitable footing for buyers. Thus, a daily candle stick closing above the $1250 mark will drive the prices 12% higher to hit the $1400-$1420 resistance zone.

Ethereum Price PredictionSource-Tradingview

However, the aforementioned resistance aligned with 20-and-50-day EMA offers a dreadful barrier to overcome. Thus, if the market sentiment remains bearish, a possible reversal from the $1400 resistance will prolong the Ethereum downfall.

From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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